NEWPORT RECEIVES AUD$876,198 (GROSS)/AUD$613,339 (NET) QUARTERLY ROYALTY PAYMENT [Yahoo! Finance]
BEACH ENERGY LTD UNSP/ADR (BCHEY)
NASDAQ:AMEX Investor Relations:
beachenergy.com.au/irm/content/investor-centre-welcome.aspx
Company Research
Source: Yahoo! Finance
the receipt of its after tax 2.5% Gross Overriding Royalty ("GOR") payment from Beach Energy Ltd. ("Beach") for the May 2024 – July 2024 quarter. Gross royalty income for the quarter was AUD$876,198. The AUD$613,339 payment received by Newport is net of 30% Australian withholding tax (AUD$262,859). Company Financial Status Newport has approximately CDN$2 million in its Treasury, comprised of cash, cash equivalents and short-term investments. As announced on August 9 th , 2024, the Company has decided to postpone the next dividend payment pending the announcement of Beach's future plans. About Newport Newport has a 2.5% GOR over licences in the Cooper Basin, Australia , operated by Beach. There is no time limit or expiry date on the GOR assets, and no cost to the Company to retain them. Newport has no control over operating decisions made by Beach. Accordingly, this prevents the Company from commenting on Beach's operating plans going forward. The Company recommends that shar
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